POET Technologies Class Action Lawsuit – POET

The filed complaint alleges that POET Technologies Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) POET Technologies misrepresented its tax status due to it likely being deemed a passive foreign investment company under U.S. tax laws which, if not properly reported by each U.S. stockholder, would have negative tax implications for those U.S. stockholders; (2) the foregoing tax issue would, if discovered, make POET Technologies a less attractive investment than it would otherwise be, thus threatening POET Technologies’ valuation; (3) defendant, despite affirming that he was not violating a non-disclosure agreement, in fact violated a business agreement by speaking about POET Technologies’ business agreements in a public interview, thus endangering POET Technologies’ business prospects, and (4) as a result, defendants’ statements about POET Technologies’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.